Cosmic CRF (BOM:543928) Beneish M-Score: -1.16 (As of Jul. 01, 2026)


BOM:543928 Cosmic CRF Ltd BOM:543928
56 GF Score
Price ₹1,072.00
GF Value ₹1,968.33
Valuation Possible Value Trap
! 4 Warning Signs
View Full Analysis

What is Cosmic CRF Beneish M-Score?

Cosmic CRF BOM:543928 +1.00% 56 Beneish M-Score is -1.16 as of Jul. 01, 2026. GuruFocus rates BOM:543928 with a GF Score™ of 56/100 and a GF Value™ of ₹1,968.33 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 962 Transportation companies, Cosmic CRF ranks worse than 90.96% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score -1.16 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Cosmic CRF's Beneish M-Score or its related term are showing as below:

BOM:543928' s Beneish M-Score Range Over the Past 10 Years
Min: -1.16   Med: -0.83   Max: 7.74
Current: -1.16

During the past 5 years, the highest Beneish M-Score of Cosmic CRF was 7.74. The lowest was -1.16. And the median was -0.83.

Cosmic CRF Beneish M-Score Historical Data

* Premium members only.

The historical data trend for Cosmic CRF's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Cosmic CRF Beneish M-Score Chart

Cosmic CRF Annual Data
Trend Mar22 Mar23 Mar24 Mar25 Mar26
Beneish M-Score
0.00 0.00 7.74 -0.83 -1.16

Cosmic CRF Semi-Annual Data
Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Beneish M-Score Get a 7-Day Free Trial Premium Member Only 7.74 0.00 -0.83 0.00 -1.16

BOM:543928 vs UNP, CSX, NSC: Beneish M-Score Comparison

For the Railroads subindustry, Cosmic CRF's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Cosmic CRF Beneish M-Score vs Transportation Industry

For the Transportation industry and Industrials sector, Cosmic CRF's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Cosmic CRF's Beneish M-Score falls into.


BOM:543928
56GF Score
Cosmic CRF Ltd BOM:543928
Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Cosmic CRF Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Cosmic CRF for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 1.0987+0.528 * 1.0433+0.404 * 1.9623+0.892 * 1.7842+0.115 * 1.1876
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 0+4.679 * 0.032721-0.327 * 1.6852
=-1.16

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Mar26) TTM:Last Year (Mar25) TTM:
Total Receivables was ₹2,053 Mil.
Revenue was ₹7,166 Mil.
Gross Profit was ₹876 Mil.
Total Current Assets was ₹5,061 Mil.
Total Assets was ₹8,191 Mil.
Property, Plant and Equipment(Net PPE) was ₹2,730 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹106 Mil.
Selling, General, & Admin. Expense(SGA) was ₹0 Mil.
Total Current Liabilities was ₹2,972 Mil.
Long-Term Debt & Capital Lease Obligation was ₹445 Mil.
Net Income was ₹506 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹238 Mil.
 Total Receivables was ₹1,047 Mil.
Revenue was ₹4,016 Mil.
Gross Profit was ₹512 Mil.
Total Current Assets was ₹3,900 Mil.
Total Assets was ₹5,536 Mil.
Property, Plant and Equipment(Net PPE) was ₹1,498 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹70 Mil.
Selling, General, & Admin. Expense(SGA) was ₹73 Mil.
Total Current Liabilities was ₹1,310 Mil.
Long-Term Debt & Capital Lease Obligation was ₹61 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(2052.912 / 7166.003) / (1047.25 / 4016.323)
=0.286479 / 0.260748
=1.0987

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(512.484 / 4016.323) / (876.449 / 7166.003)
=0.1276 / 0.122307
=1.0433

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (5060.829 + 2730.488) / 8191.493) / (1 - (3899.624 + 1498.413) / 5535.86)
=0.048853 / 0.024896
=1.9623

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=7166.003 / 4016.323
=1.7842

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(69.614 / (69.614 + 1498.413)) / (106.041 / (106.041 + 2730.488))
=0.044396 / 0.037384
=1.1876

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(0 / 7166.003) / (73.217 / 4016.323)
=0 / 0.01823
=0

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((445.312 + 2971.861) / 8191.493) / ((60.519 + 1309.864) / 5535.86)
=0.417161 / 0.247547
=1.6852

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(505.632 - 0 - 237.596) / 8191.493
=0.032721

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Cosmic CRF has a M-score of -1.16 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →
What does a Beneish M-Score of -1.16 mean?
Cosmic CRF (BOM:543928) has a Beneish M-Score of -1.16 as of Jul. 01, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cosmic CRF and its competitors. According to the industry distribution chart, Cosmic CRF ranks #875 out of 962 companies in the Transportation industry, placing it in the top 91%.
Is Cosmic CRF's Beneish M-Score too high?
Cosmic CRF's current Beneish M-Score is -1.16. Based on the distribution chart, Cosmic CRF ranks #875 out of 962 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Cosmic CRF has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Cosmic CRF's Beneish M-Score compare to UNP and CSX?
According to the Transportation industry distribution chart, Cosmic CRF ranks #875 out of 962 companies for Beneish M-Score. This places Cosmic CRF in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Beneish M-Score for a Transportation company?
A good Beneish M-Score depends on the Transportation industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Beneish M-Score mean?
A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Cosmic CRF and its competitors. Cosmic CRF's current Beneish M-Score is -1.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cosmic CRF stock overvalued right now?
Based on GuruFocus' analysis, Cosmic CRF (BOM:543928) is currently considered Possible Value Trap. The stock's GF Value™ is ₹1,968.33, compared to a current price of ₹1,072.00 — trading 45.5% below its estimated fair value. The current Beneish M-Score is -1.16. Cosmic CRF's overall GF Score™ is 56/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Beneish M-Score calculated?
Beneish M-Score is calculated from a company's financial statements. For Cosmic CRF (BOM:543928), the current Beneish M-Score is -1.16 as of Jul. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Cosmic CRF (BOM:543928) Overvalued in 2026?

Based on GuruFocus' analysis, Cosmic CRF stock appears to be undervalued. The current stock price of ₹1,072.00 is trading 45.5% below its estimated GF Value™ of ₹1,968.33. GuruFocus considers Cosmic CRF to be Possible Value Trap.

Key valuation signals for BOM:543928:

  • Beneish M-Score: -1.16
  • GF Value™: ₹1,968.33 vs. price of ₹1,072.00 (45.5% below fair value)
  • GF Score™: 56/100 with 4 warning signs

No single metric tells the full story. See the BOM:543928 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Cosmic CRF Business Description

Address 19, Monohar Pukur Road, Cosmic Tower, 2nd Floor, Kolkata, WB, IND, 700029
Cosmic CRF Ltd is engaged in manufacturing of Railway Components, Sheet Piles and Structures from its Cold Rolled Forming (CRF) Unit. The group's product categories include SHeet Piles and Wagons & Railways. Its portfolio includes CRF Products: Sections for wagons, coaches, and infrastructure; Sheet Piles: For bridges, ports, and civil projects; Poles: High mast, octagonal, tubular, and galvanised; Springs & Forgings: Helical and Casnub springs, forging for wagons; and Engineering Solutions: Galvanisation and fabrication services.
56GF Score

Get the complete analysis for BOM:543928

Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹1,072.00
Price
₹1,968.33
GF Value